Wednesday, June 12, 2024

Latin America’s second-most expensive neighborhood is in Mexico

A group of three real estate firms released their latest report on Latin America’s most expensive neighborhoods, and three Mexican neighborhoods are in the top 10.  

Compiled by real estate firms Properati, Lamudi and Trovit, the report offers important takeaways on the real estate market around the region.

The list ranked Monterrey’s Del Valle as Mexico’s most expensive neighborhood – coming in second in Latin America. (Monica Garza/Shutterstock)

Which countries were included in the survey?

 The report analyzed data from Argentina, Mexico, Brazil, Uruguay, Chile, Colombia, Guatemala, Costa Rica, Panamá, Perú, Paraguay, Venezuela and Uruguay.

Out of the 13 countries analyzed, the top 10 most expensive neighborhoods are found in five different countries: Argentina, Mexico, Brazil, Uruguay and Chile.

How were housing costs measured?

Buenos Aires’ Puerto Madero neighborhood ranks as Latin America’s most expensive. (En Viaje)

The analysis measured the average price per square meter of housing in 26 upper-class neighborhoods of the 13 countries.  

Which Mexican neighborhoods are on the list?

Del Valle in Monterrey is the most expensive neighborhood in Mexico and the second-most expensive in Latin America. It is followed by Puerta de Hierro in Guadalajara, which came in at No. 9 and Bosques de las Lomas in Mexico City, which rounded out the top 10. 

Lomas de Angelópolis in Puebla came in at No. 17. 

Colombia and Mexico were the only Latin American countries with more than three neighborhoods included in the ranking.  

The trendy Lomas de Angelópolis district in Puebla also made the top 10. (Ufara)

How do the rankings compare to last year?

Puerto Madero in Argentina once again secured the top spot after it ranked No. 1 in 2022. 

Meanwhile, Ipanema in Brazil, which came in second last year, dropped one position to give way to Del Valle in Monterrey, which had previously ranked at No. 4 in 2022. 

Puerta de Hierro in Guadalajara fell two spots from No. 7 last year, while Bosques de las Lomas in Mexico City also dropped from the eighth spot in 2022.  

What’s the price per square meter of the top three neighborhoods on the list?

According to the report, the cost of buying a two or three-bedroom apartment in Puerto Madero, Buenos Aires is approximately US $5,845 per square meter. In Del Valle, Monterrey, the average value per square meter is US $4,071, while Ipanema reports an average of US $4,008 per square meter.

With reports from El Economista

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